From raw materials to work-in-process inventory to finished goods, inventory represents a large investment. In these articles, we discuss how companies can master the art of inventory management.
- Visual Inventory - Organizing your inventory in a fashion where you can see what you have can greatly improve your inventory management. Learn techniques for creating a visual inventory system.
- Small Business Inventory Management - Many small business consultants contend that creating an efficient system for counting and maintaining inventory items is the ultimate key to your business success.
- Safety Stock - How much safety stock you carry can seriously impact your customer service and bottom line. Identifying the appropriate amount of safety stock to maintain is crucial to a company's success.
- Inventory Management - There are many costs associated with carrying too much inventory. On the flip side, not carrying enough inventories can result in lost sales. As a result, the small business must find the correct balance in order to satisfy their customers and reduce their costs.
- Pareto Analysis: ABC inventory - Not all products are created equal. A relatively small percentage of products and materials get used the bulk of the time. By switching our management philosophy to recognize this distribution, we operate more efficiently. An example of this is applied to inventory control, as discussed in the following article.
- Economic Order Quantity - The economic order quantity is a tool used in Operations Management to determine the most cost-effective purchase quantity. The variables within the formula are discussed in the article below.
- How to Wring Out Cash by Reducing Inventory - Most often, inventories are where cash flows get stagnated. Managing inventories carefully will help maintain a better cash flow. Here is how you can manage inventories better and get your suppliers involved in the process.
- Finding Inventory Suppliers - It is of essence that entrepreneurs find inventory suppliers with whom transactions that foster the success of the business can be made. What qualities should these inventory suppliers possess and where can they be found?